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Silver Wheaton Corp. Message Board

  • chemaes44 chemaes44 Jan 8, 2013 4:23 PM Flag

    Many Stars Aligned today, hopefully tonight too.

    There were a lot of things that suggested that today was the bottom in SLW, PAAS, SSRI etc. Silver gave the slightest of confirmations as well. If it was the bottom, this sets up $48-$49 slw within a few months.

    Just have to see if the price action can hold up overnight. I'm long SLW calls out to March.. Tomorrow, I'll be watching eagerly to leverage a double etf.

    The one concerning thing is that these fund guys have heavily reapplied this "long miner/short metal " trade which is taking a toll on the two moving together.

    Further confirmation would come if by the time electronic trading closes down for a break tonight, silver march futures are above 30.43, better yet 30.468. If tomorrow morning rolls around and the prices are above this, buy long anything connected to silver.

    Trading carries risk, and as always accept what I write with a grain of salt. As confident as I am to write this, I carried no long equity postions into the close. I do have call options on SLW and future positions long march. good luck

    chem

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SLW
26.78+0.07(+0.26%)Jul 28 4:03 PMEDT

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